EnPro Industries Announces Third Quarter 2009 Results

- Cost reductions contributed to sequential improvements in profits at the
Sealing Products and Engineered Products segments from the second quarter of
2009

CHARLOTTE, N.C., Oct. 29 /PRNewswire-FirstCall/ -- EnPro Industries (NYSE:
NPO) today reported net income of $1.8 million, or $0.09 a share, for the
third quarter of 2009, compared with net income of $12.4 million, or $0.59 a
share, in the third quarter of 2008. In the third quarter of 2009, the company
reported a pre-tax loss of $1.0 million and a tax benefit of $2.8 million.

(Logo: http://www.newscom.com/cgi-bin/prnh/20050825/CLTH030LOGO )

Before asbestos-related expenses and other selected items, the company earned
$10.6 million, or $0.52 a share, compared with $20.9 million, or $0.99 a share
in the third quarter of 2008. A table showing the effect of asbestos-related
expenses and other selected items in both periods is included in this
announcement. Per share amounts are expressed on a diluted basis.

Sales in the third quarter decreased to $219.7 million, a 21% decline from the
third quarter of 2008 when they were $278.6 million. Excluding the effect of
foreign exchange, sales declined 19% from the third quarter of 2008. The
decline in sales reflects the continued weak conditions of the worldwide
markets served by EnPro's Sealing Products and Engineered Products segments.

Earnings before interest, income taxes, depreciation, amortization,
asbestos-related expenses and other selected items (EBITDAA) were $27.3
million in the third quarter of 2009, compared with $44.8 million in the third
quarter of 2008. As a percentage of sales, EBITDAA fell to 12.4% from 16.1% a
year ago.

"We are pleased with our performance in the third quarter, given the state of
most of our markets," said Steve Macadam, president and chief executive
officer of EnPro Industries. "Our results exceeded our expectations from
earlier in the year, despite weak demand and the seasonality that typically
affects our Sealing Products and Engineered Products segments. Sales in these
segments were about the same as in the second quarter and their profits and
margins increased over the second quarter, while our Engine Products and
Services segment continued to perform well.

"Our performance in the third quarter reflects the effectiveness of the cost
reductions we began last year as well as the important benefits of other
programs we have initiated to establish high standards of excellence,
company-wide," Macadam continued.

For the first nine months of 2009, EnPro reported a net loss of $100.7
million, or $5.05 a share, compared with net income of $45.3 million, or $2.12
a share, in the first nine months of 2008. The loss in the first nine months
of 2009 includes a non-cash goodwill impairment charge of $96.1 million, or
$4.81 a share, after tax. Before asbestos-related expenses and other selected
items, the company earned $26.2 million, or $1.29 a share, in the first nine
months of 2009 compared with $71.9 million, $3.37 a share, in 2008.

Sales in the first nine months of the year were $671.4 million, 24% below the
first nine months of 2008 when they were $878.5 million. Before the negative
effect of foreign exchange and a small benefit from acquisitions, sales were
20% below the first nine months of last year.

Sealing Products

($Millions)
Quarter Ended 9/30/09 9/30/08
------------- ------- -------
Sales $99.9 $127.1
EBITDA $19.3 $24.3
EBITDA Margin 19.3% 19.1%
------------- ---- ----

Sales in the Sealing Products segment were 21% below the third quarter of 2008
as volume declined at all operations in the segment when compared to a year
ago. Excluding the effect of unfavorable foreign exchange rates, sales
declined 19%.

The segment's earnings before interest, taxes, depreciation and amortization
declined by 21% from the third quarter of 2008, reflecting lower volumes
across the segment's operations. Although volumes were lower, the benefits of
cost reductions and improved pricing produced a slight increase in the
segment's EBITDA margins, which improved to 19.3%.

Engineered Products

($Millions)
Quarter Ended 9/30/09 9/30/08
------------- ------- -------
Sales $88.1 $131.0
EBITDA $5.7 $22.4
EBITDA Margin 6.5% 17.1%
------------- --- ----

In the Engineered Products segment, sales decreased by 33% from the third
quarter of 2008 as all units in the segment reported decreases in demand.
Unfavorable foreign exchange rates accounted for a 3% decrease in sales while
acquisitions contributed an increase of 2%.

Weak market conditions led to lower volumes at all operations in the segment,
reducing profits at Quincy Compressor and Compressor Products International
and contributing to a loss at GGB. The segment's EBITDA declined to $5.7
million from $22.4 million a year ago, and EBITDA margins fell to 6.5% from
17.1% a year ago.

Engine Products and Services

($Millions)
Quarter Ended 9/30/09 9/30/08
------------- ------- -------
Sales $32.0 $21.1
EBITDA $6.6 $3.8
EBITDA Margin 20.6% 18.0%
------------- ---- ----

The Engine Products and Services segment reported a 52% increase in sales over
the third quarter of 2008. The increase reflects higher parts and service
sales and increased aftermarket activity in 2009 compared to 2008. No new
engines were shipped in either period. The segment's EBITDA increased by 74%
and EBITDA margins improved by 2.6 percentage points as sales volumes
increased.

Cash Flow

The company's cash balance at the end of the third quarter of 2009 was $83.5
million compared to $76.3 million at December 31, 2008 and $58.0 million at
June 30, 2009. Operating activities provided net cash of $34.8 million in the
first nine months of 2009 compared to $68.8 million in the first nine months
of 2008. The decrease primarily reflects weaker earnings partially offset by
lower tax payments and reduced working capital requirements.

Payments of asbestos claims and expenses, net of insurance receipts, were
$30.9 million in the first nine months of 2009, compared with $20.1 in the
first nine months of 2008. The increase primarily reflects differences in the
timing of payments and insurance receipts. For the full year of 2009, the
company expects a modest increase in net outflows for asbestos over 2008, when
they were $37 million.

Capital expenditures were $18.8 million in the first nine months of 2009,
compared with $36.4 million in the same period of 2008. Spending on
acquisitions was $6.2 million in the first nine months of 2009 compared with
$37.4 million a year ago.

Outlook

"While activity remains well below the levels of a year ago, demand has
stabilized in most of our markets and is showing signs of modest improvement
in portions of our energy markets and in some industrial markets," said
Macadam. "We expect these conditions, along with the performance of Fairbanks
Morse and our company-wide improvement programs, to continue to benefit our
segment results over the remaining months of 2009."

"As our third quarter results indicate, we have adjusted well to the
difficult conditions of the past year, and we are in a position to return to a
pattern of growth," Macadam said. "Stable markets, a healthy balance sheet,
ample liquidity and our strategic discipline will enable us to take advantage
of the many exciting opportunities we expect our businesses to encounter in
the future."

Conference Call Information

EnPro will hold a conference call today, October 29, at 10:00 a.m. Eastern
Daylight Time to discuss third quarter results. To participate in the call,
dial 1-800-851-4704 approximately 10 minutes before the call begins and
provide conference id number 35813853. The call will also be webcast at
http://www.enproindustries.com.

Forward-Looking Statements

Statements in this release that express a belief, expectation or intention, as
well as those that are not historical fact, are forward-looking statements
under the Private Securities Litigation Reform Act of 1995. They involve a
number of risks and uncertainties that may cause actual events and results to
differ materially from such forward-looking statements. These risks and
uncertainties include, but are not limited to: the resolution of current and
potential future asbestos claims against certain of our subsidiaries which
depends on such factors as the possibility of asbestos reform legislation, the
financial viability of insurance carriers, the timing of payments of claims
and related expenses, the timing of insurance collections, limitations on the
amount that may be recovered from insurance carriers, the bankruptcies of
other defendants and the results of litigation; general economic conditions in
the markets served by our businesses, some of which are cyclical and
experience periodic downturns; prices and availability of raw materials; and
the amount of any payments required to satisfy contingent liabilities related
to discontinued operations of our predecessors, including liabilities for
certain products, environmental matters, employee benefit obligations and
other matters. Our filings with the Securities and Exchange Commission,
including the Form 10-K for the year ended December 31, 2008, and the Form
10-Q for the quarter ended March 31, 2009, describe these and other risks and
uncertainties in more detail. We do not undertake to update any
forward-looking statement made in this release to reflect any change in
management's expectations or any change in the assumptions or circumstances on
which such statements are based.

EnPro Industries, Inc. is a leader in sealing products, metal polymer and
filament wound bearings, compressor systems and components, diesel and
dual-fuel engines and other engineered products for use in critical
applications by industries worldwide. For more information about EnPro, visit
the company's website at http://www.enproindustries.com.

EnPro Industries, Inc.

Consolidated Statements of Operations (Unaudited)

For the Quarters and Nine Months Ended September 30, 2009 and 2008
(Stated in Millions of Dollars, Except Per Share Data)

Quarters Ended Nine Months Ended
-------------- -----------------
Sept. Sept. Sept. Sept.
30, 30, 30, 30,
2009 2008 2009 2008
As As
adjusted adjusted
(1) (1)
------ ------ ------ ------
Net sales $219.7 $278.6 $671.4 $878.5
Cost of sales 146.6 179.7 450.9 561.1

Gross profit 73.1 98.9 220.5 317.4

Operating expenses:
Selling, general and administrative
expenses 57.0 65.3 179.2 203.1
Asbestos-related expenses 13.7 13.0 41.6 37.3
Goodwill impairment charge - - 113.1 -
Other operating expense (income),
net 0.7 0.6 7.7 (2.1)

Total operating expenses 71.4 78.9 341.6 238.3
------------------------ ---- ---- ----- -----

Operating income (loss) 1.7 20.0 (121.1) 79.1

Interest expense (3.1) (3.2) (9.3) (9.5)
Interest income 0.4 0.4 0.6 2.3
Other income (expense), net - (0.2) 19.1 (4.0)

Income (loss) before income taxes (1.0) 17.0 (110.7) 67.9

Income tax benefit (expense) 2.8 (4.6) 10.0 (22.6)

Net income (loss) $1.8 $12.4 $(100.7) $45.3
================ ==== ===== ======= =====

Basic earnings (loss) per share $0.09 $0.62 $(5.05) $2.22
=============================== ===== ===== ====== =====
Average common shares outstanding
(millions) 20.0 20.0 19.9 20.4
================================= ==== ==== ==== ====

Diluted earnings (loss) per share $0.09 $0.59 $(5.05) $2.12
================================= ===== ===== ====== =====
Average common shares outstanding
(millions) 20.3 21.1 19.9 21.3
================================= ==== ==== ==== ====

(1) The 2008 results have been adjusted to reflect the retrospective
application of Accounting Standards Codification 470-20, "Debt with
Conversion and Other Options" as required in its transition guidance.
This footnote applies to all tables contained herein.

EnPro Industries, Inc.

Consolidated Statements of Cash Flows (Unaudited)

For the Nine Months Ended September 30, 2009 and 2008
(Stated in Millions of Dollars)

2009 2008
As adjusted
(1)
---- -----------
Operating activities
Net income (loss) $(100.7) $45.3
Adjustments to reconcile net income
(loss) to net cash provided by
operating activities:
Depreciation 23.5 23.1
Amortization 10.2 10.4
Accretion of debt discount 3.9 3.5
Goodwill impairment charge 113.1 -
Gain on sale of assets - (2.2)
Deferred income taxes (20.3) (7.9)
Stock-based compensation 0.7 4.4
Excess tax benefits from
stock-based compensation - (0.8)
Change in assets and
liabilities, net of effects
of acquisitions of businesses:
Asbestos liabilities, net
of insurance receivables 10.7 17.2
Accounts and notes
receivable 10.3 (16.0)
Inventories (1.2) (12.5)
Accounts payable (5.1) (9.9)
Other current assets
and liabilities (4.0) 13.3
Other non-current
assets and liabilities (6.3) 0.9
---- ---
Net cash provided by operating activities 34.8 68.8
----------------------------------------- ---- ----

Investing activities
Purchases of property, plant and
equipment (18.8) (36.4)
Proceeds from sales of assets 0.4 3.2
Proceeds from liquidation of
investments 3.6 7.5
Acquisitions, net of cash acquired (6.2) (37.4)
Other 1.0 3.1
----- --- ---
Net cash used in investing activities (20.0) (60.0)
------------------------------------- ----- -----

Financing activities
Repayments of debt (9.9) (4.0)
Common stock repurchases - (62.1)
Proceeds from issuance of common stock 0.1 0.3
Excess tax benefits from
stock-based compensation - 0.8
--- ---
Net cash used in financing activities (9.8) (65.0)
------------------------------------- ---- -----

Effect of exchange rate changes on
cash and cash equivalents 2.2 (1.2)
---------------------------------- --- ----

Net increase (decrease) in cash and
cash equivalents 7.2 (57.4)
Cash and cash equivalents at
beginning of year 76.3 129.2
---------------------------- ---- -----
Cash and cash equivalents at end
of period $83.5 $71.8
================================ ===== =====

Supplemental disclosures of cash
flow information:
Cash paid during the period for:
Interest $3.9 $4.5
Income taxes $10.3 $30.6
Asbestos-related claims and expenses,
net of insurance recoveries $30.9 $20.1

EnPro Industries, Inc.

Consolidated Balance Sheets (Unaudited)

As of September 30, 2009 and December 31, 2008
(Stated in Millions of Dollars)

September December
30, 31,
2009 2008
As adjusted
(1)
---- -----------
Current assets
Cash and cash equivalents $83.5 $76.3
Accounts and notes receivable 155.3 157.7
Asbestos insurance receivable 66.3 67.9
Inventories 90.2 84.8
Other current assets 52.5 40.9
-------------------- ---- ----
Total current assets 447.8 427.6

Property, plant and equipment 205.3 206.1
Goodwill 113.7 218.1
Other intangible assets 102.1 103.4
Asbestos insurance receivable 186.4 239.5
Deferred income taxes 85.1 79.1
Other assets 48.4 60.0
---- ----
Total assets $1,188.8 $1,333.8
============ ======== ========

Current liabilities
Current maturities of
long-term debt $0.1 $9.6
Accounts payable 64.8 66.4
Asbestos liability 85.2 85.3
Other accrued expenses 84.1 86.4
Total current liabilities 234.2 247.7

Long-term debt 128.9 124.9
Asbestos liability 336.3 380.2
Pension liability 86.9 80.3
Other liabilities 54.3 74.6
---- ----
Total liabilities 840.6 907.7
----------------- ----- -----

Shareholders' equity
Common stock 0.2 0.2
Additional paid-in capital 400.9 400.2
Retained earnings
(accumulated deficit) (56.1) 44.6
Accumulated other comprehensive
income (loss) 4.6 (17.4)
Common stock held in
treasury, at cost (1.4) (1.5)
---- ----
Total shareholders' equity 348.2 426.1
-------------------------- ----- -----
Total liabilities and
shareholders' equity $1,188.8 $1,333.8
========================== ======== ========

EnPro Industries, Inc.

Segment Information (Unaudited)

For the Quarters and Nine Months Ended September 30, 2009 and 2008
(Stated in Millions of Dollars)

Sales
-----
Quarters Ended Nine Months Ended
September 30, September 30,
-------------- --------------
2009 2008 2009 2008
---- ---- ---- ----

Sealing Products $99.9 $127.1 $295.1 $387.6
Engineered Products 88.1 131.0 264.4 408.9
Engine Products and Services 32.0 21.1 113.1 83.4
220.0 279.2 672.6 879.9
Less intersegment sales (0.3) (0.6) (1.2) (1.4)
---- ---- ---- ----
$219.7 $278.6 $671.4 $878.5
====== ====== ====== ======

Segment Profit (Loss)
--------------------
Quarters Ended Nine Months Ended
September 30, September 30,
------------- -------------------
2009 2008 2009 2008
As adjusted
---- ---- ---- -----------

Sealing Products $15.1 $20.2 $42.1 $71.2
Engineered Products (0.3) 16.3 (8.5) 58.4
Engine Products and Services 5.7 2.8 20.9 10.5
--- --- ---- ----
$20.5 $39.3 $54.5 $140.1
===== ===== ===== ======

Segment Margin
--------------
Quarters Ended Nine Months Ended
September 30, September 30,
-------------- --------------------
2009 2008 2009 2008
As adjusted
---- ---- ---- -----------
Sealing Products 15.1% 15.9% 14.3% 18.4%
Engineered Products (0.3)% 12.4% (3.2)% 14.3%
Engine Products and Services 17.8% 13.3% 18.5% 12.6%
---- ---- ---- ----
9.3% 14.1% 8.1% 15.9%
=== ==== === ====

Reconciliation of Segment Profit to Net Income (Loss)
-----------------------------------------------------
Quarters Ended Nine Months Ended
September 30, September 30,
------------- -----------------
2009 2008 2009 2008
As adjusted
(1)
---- ---- ---- -----------

Segment profit $20.5 $39.3 $54.5 $140.1
Corporate expenses (5.2) (5.6) (20.1) (23.8)
Asbestos-related expenses (13.7) (13.0) (41.6) (37.3)
Goodwill impairment charge - - (113.1) -
Interest expense, net (2.7) (2.8) (8.7) (7.2)
Other income (expense), net 0.1 (0.9) 18.3 (3.9)
---------------------------

Income (loss) before income taxes (1.0) 17.0 (110.7) 67.9
Income tax benefit (expense) 2.8 (4.6) 10.0 (22.6)
--- ---- ---- -----
Net income (loss) $1.8 $12.4 $(100.7) $45.3
================ ==== ===== ======= =====

Segment profit (loss) is total segment revenue reduced by operating
expenses and restructuring and other costs identifiable with the segment.
Corporate expenses include general corporate administrative costs.
Expenses not directly attributable to the segments, corporate expenses,
net interest expense, asbestos-related expenses, gains/losses related to
the sale of assets, impairments and income taxes are not included in the
computation of segment profit. The accounting policies of the reportable
segments are the same as those for the Company.

During 2009, the Company modified the methodology for allocating certain
corporate expenses that specifically related to the operating segments.
For comparability purposes, segment profits in 2008 have been adjusted to
be consistent with the new expense allocation used by management to
evaluate segment performance.

EnPro Industries, Inc.

Reconciliation of Income Before Asbestos-Related Expenses and
Other Selected Items to Net Income (Loss) (Unaudited)

For the Quarters and Nine Months Ended September 30, 2009 and 2008
(Stated in Millions of Dollars, Except Per Share Data)

Quarters Ended September 30,
--------------------------------------
2009 2008
As adjusted (1)
---------------- ----------------
$ Per share $ Per share
--- --------- --- ---------
Income before asbestos-related
expenses and other selected items $10.6 $0.52 $20.9 $0.99

Adjustments (net of tax):

Asbestos-related expenses (8.6) (0.42) (8.1) (0.38)

Restructuring costs (0.4) (0.02) (0.4) (0.02)

Tax accrual adjustments 0.2 0.01 - -
----------------------- --- ---- --- ---

Impact (8.8) (0.43) (8.5) (0.40)
------ ---- ----- ---- -----

Net income $1.8 $0.09 $12.4 $0.59
========== ==== ===== ===== =====

Nine Months Ended September 30,
---------------------------------
2009 2008
As adjusted (1)
--------------- ---------------
$ Per share $ Per share
--- --------- --- ---------
Income before asbestos-related
expenses and other selected items $26.2 $1.29 $71.9 $3.37

Adjustments (net of tax):

Asbestos-related expenses (26.0) (1.30) (23.3) (1.09)

Restructuring costs (4.8) (0.24) (1.6) (0.08)

Goodwill impairment charge (96.1) (4.81) - -

Adjustment of liability for
retiree medical benefits 12.0 0.60 - -

Warranty claim settlement - - 1.6 0.07

Gain on sale of assets - - 1.4 0.07

CEO transition costs (1.0) (0.05) (2.5) (0.12)

Proxy related expenses - - (2.2) (0.10)

Environmental reserve
adjustment (0.2) (0.01) - -

Tax accrual adjustments (10.8) (0.53) - -
----------------------- ----- ----- --- ---

Impact (126.9) (6.34) (26.6) (1.25)
------ ------ ----- ----- -----

Net income (loss) $(100.7) $(5.05) $45.3 $2.12
================ ======= ====== ===== =====

Management of the Company believes that it would be helpful to the readers
of the financial statements to understand the impact of certain selected
items on the Company's reported net income and earnings per share,
including items that may recur from time to time. This presentation
enables readers to better compare EnPro Industries, Inc. to other
diversified industrial manufacturing companies that do not incur
significant asbestos-related expenses, the sporadic impact of
restructuring activities or other selected items. Management acknowledges
that there are many items that impact a company's reported results and
this list is not intended to present all items that may have impacted
these results.

The amounts above, which may be considered non-GAAP financial measures,
are shown on an after-tax basis and have been calculated by applying a
37.5% assumed effective tax rate to the pre-tax amount except for the
goodwill impairment adjustment for which a $17 million benefit is
reflected. The tax accrual adjustments have already been stated in after-
tax amounts. The pre-tax amounts for the asbestos-related expenses and
goodwill impairment charge are separately presented in the accompanying
consolidated statements. The restructuring costs, warranty claim
settlement and gain on sale of assets are included as part of other
operating expense (income), net, the adjustment of liability for retiree
medical benefits, the environmental reserve adjustment and the proxy
related expenses are included in other (non-operating) income (expense),
net and the CEO transition costs are included in selling, general and
administrative expenses. The tax accrual adjustments are reflected in
income tax expense. Per share amounts were calculated by dividing by the
weighted-average shares of common stock outstanding during the periods.

EnPro Industries, Inc.

Reconciliation of EBITDA to Segment Profit (Loss) (Unaudited)

For the Quarters and Nine Months Ended September 30, 2009 and 2008
(Stated in Millions of Dollars)

Quarter Ended September 30, 2009
---------------------------------------
Engine
Prods.
Sealing Engineered and Total
Products Products Services Segments
-------- -------- -------- --------
Earnings before interest, income
taxes, depreciation and
amortization (EBITDA) $19.3 $5.7 $6.6 $31.6

Deduct depreciation and
amortization expense (4.2) (6.0) (0.9) (11.1)

Segment profit (loss) $15.1 $(0.3) $5.7 $20.5
===== ===== ==== =====
EBITDA margin 19.3% 6.5% 20.6% 14.4%
==== === ==== ====

Quarter Ended September 30, 2008
As adjusted (1)
--------------------------------------
Engine
Prods.
Sealing Engineered and Total
Products Products Services Segments
-------- -------- -------- --------
Earnings before interest, income
taxes, depreciation and
amortization (EBITDA) $24.3 $22.4 $3.8 $50.5

Deduct depreciation and
amortization expense (4.1) (6.1) (1.0) (11.2)

Segment profit $20.2 $16.3 $2.8 $39.3
===== ===== ==== =====
EBITDA margin 19.1% 17.1% 18.0% 18.1%
==== ==== ==== ====

Nine Months Ended September 30, 2009
-----------------------------------------
Engine
Prods.
Sealing Engineered and Total
Products Products Services Segments
-------- -------- -------- --------
Earnings before interest,
income taxes, depreciation
and amortization (EBITDA) $54.7 $9.4 $23.6 $87.7

Deduct depreciation and
amortization expense (12.6) (17.9) (2.7) (33.2)

Segment profit (loss) $42.1 $(8.5) $20.9 $54.5
===== ===== ===== =====
EBITDA margin 18.5% 3.6% 20.9% 13.1%
==== === ==== ====

Nine Months Ended September 30, 2008
As adjusted (1)
----------------------------------------
Engine
Prods.
Sealing Engineered and Total
Products Products Services Segments
-------- -------- -------- --------
Earnings before interest, income
taxes, depreciation
and amortization (EBITDA) $83.1 $76.6 $13.4 $173.1

Deduct depreciation and
amortization expense (11.9) (18.2) (2.9) (33.0)

Segment profit $71.2 $58.4 $10.5 $140.1
===== ===== ===== ======
EBITDA margin 21.4% 18.7% 16.1% 19.7%
==== ==== ==== ====

For a reconciliation of segment profit to net income (loss), please refer
to the Segment Information (Unaudited) schedule.

EnPro Industries, Inc.

Reconciliation of EBITDAA to Net Income (Loss) (Unaudited)

For the Quarters and Nine Months Ended September 30, 2009 and 2008
(Stated in Millions of Dollars)

Quarters Ended Nine Months Ended
September 30, September 30,
----------------- ------------------
2009 2008 2009 2008
As adjusted As adjusted
(1) (1)
---- ----------- ---- -----------
Earnings before interest,
income taxes, depreciation,
amortization, asbestos-related
expenses and other selected
items (EBITDAA) $27.3 $44.8 $76.8 $151.3

Adjustments:
Interest expense, net (2.7) (2.8) (8.7) (7.2)
Income tax benefit
(expense) 2.8 (4.6) 10.0 (22.6)
Depreciation and
amortization expense (11.2) (11.4) (33.6) (33.5)
Asbestos-related
expenses (13.7) (13.0) (41.6) (37.3)
Restructuring costs (0.7) (0.6) (7.7) (2.6)
Goodwill impairment
charge - - (113.1) -
Adjustment of liability
for retiree medical
benefits - - 19.2 -
Environmental reserve
adjustment - - (0.4) -
Warranty claim
settlement - - - 2.5
Gain on sale of assets - - - 2.2
Proxy related expenses - - - (3.4)
CEO transition costs - - (1.6) (4.1)
--- --- ---- ----
Impact (25.5) (32.4) (177.5) (106.0)
----- ----- ------ ------
Net income (loss) $1.8 $12.4 $(100.7) $45.3
==== ===== ======= =====

SOURCE EnPro Industries

Don Washington, Director, Investor Relations and Corporate Communications,
+1-704-731-1527, don.washington@enproindustries.com